Every now on then a mysterious day trader pops out to say that he is the best trader in the world – just give him a little money and his company will sell you the secret that made them millions.
These guys are all fakes. They didn’t make any money trading so they are trying to make some money selling their ideas (the one’s that don’t work).
If you have any common sense you keep your money as far away from these guys as possible.
There is, however, a person that can truly say that he is the best in the world.
Larry Williams – the best trader in the world
Larry R. Williams was born in 1942 – currently he is a technical analyst, a stock and commodities trader and runs his own Futures trading website.
In 1987 Larry took part of the World Cup Championship of Futures Trading. The competition lasted for 12
months and the goal was to start with $10 000 and the one with the most money in the end of the year was to become the winner.
Larry Williams won the competition by turning 10,000 dollars into $1,147,000 in 12 months – something that no one has ever come close to achieving. That is a yearly growth of 11 370% or a monthly rate of almost 1000 per cent.
During the competition Williams actually managed to run his winnings to more than 2 million dollars by the end of September but then dropped back down to $750,000 after the market crash in October 1987.
In the two last months of the competition Williams managed to make almost 400 000 dollars and conquer the million dollar mark for the second time during the same year.
Larry was lucky but he knew what he was doing
It seemed to a lot of people that Williams was just extremely lucky but no one was ready for what was to happen ten years later that truly showed that Larry knew exactly what he was doing.
In 1997 Larry taught his daughter Michelle Williams his trading strategy and while only being 16 Michelle managed to win the same competition with 1000 percent return on her US$10,000 investment.
In addition to being a great trader, Mr. Williams is also known for developing different stock market indicators – including the Williams %R and the Ultimate Oscillator.
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